MESA LABORATORIES, INC. (NASDAQ:MLAB) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
ITEM 5.02

DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS

Mesa Laboratories, Inc. (the “Company” or “Mesa”) announced that effective March 20, 2017, Gary Owens, age 49 has been named Vice President and Chief Operating Officer of the Company. Mr. Owens was most recently with Danaher Corporation. Mr. Owens joined Danaher Corporation in 2006 as the Group Vice-President of Business Development for Danaher Industrial. From 2009-2012, Mr. Owens was Corporate Vice-President of Strategic Development for Danaher Corporation. From 2012 -2016, Mr. Owens served as Vice-President and General Manager of Beckman Coulter Life Sciences, a wholly owned subsidiary of Danaher Corporation. Beginning in 2016, Mr. Owens served as Corporate Vice-President of Strategic Development for Danaher Corporation and was seconded to Pall Corporation, a wholly owned subsidiary of Danaher Corporation as Commercial Integration Lead until his appointment to his current position with the Company.

Commencing on his employment date, Mr. Owens will be paid a base salary of $400,000 and will participate in the Company’s incentive plan with a maximum possible payout of $300,000. In addition to his cash compensation, Mr. Owens will be awarded 7,000 shares of Mesa restricted stock and 21,000 non-qualified stock options under the Company’s 2014 Stock Compensation Plan. Both the restricted shares and stock options will vest ratably over seven years and the stock options will have a life of eight years. As of the date of the Current Report on Form 8-K, neither Mr. Owens nor any of his immediate family members is a party, either directly or indirectly, to any transaction that would be required to be considered and disclosed as a related party transaction under Regulation S-K.

About MESA LABORATORIES, INC. (NASDAQ:MLAB)

Mesa Laboratories, Inc. is focused primarily on quality control products and services. The Company operates through four segments: Instruments, Continuous Monitoring, Biological Indicators and Cold Chain. The Instruments Division designs, manufactures and markets quality control instruments and disposable products. Its Biological Indicators Division provides testing services, along with the manufacturing and marketing of biological indicators and distribution of chemical indicators used to assess the effectiveness of sterilization processes. Its Continuous Monitoring Division designs, develops and markets systems, which are used to monitor various environmental parameters. Its Cold Chain Division provides parameter (primarily temperature) monitoring of products in a cold chain. The Company’s brands include DataTrace, DialyGuard, DryCal, Torqo, SureTorque, BGI, Mesa, PCD, Apex, CheckPoint, Mesa and TempTrust.

MESA LABORATORIES, INC. (NASDAQ:MLAB) Recent Trading Information

MESA LABORATORIES, INC. (NASDAQ:MLAB) closed its last trading session down -1.26 at 122.35 with 33,278 shares trading hands.